Economic Newsletter : May 2018

Focus Issues

High Impact News

ISRO to challenge Space X with reusable aircrafts

India’s premier space agency ISRO, is known for its homegrown and cost-effective space technologies. It’s successful Mars mission ‘Mangalyaan’ was less expensive than the movie Gravity. ISRO is planning to challenge Space X by developing a new propulsion technology ...

As a follow up on ETCA negotiations between India and Sri Lanka, a team from FSSAI, India visited Sri Lanka to audit five Sri Lankan Laboratories. Recognition of laboratories will speed up clearances and help Sri Lankan exports to comply with Indian food standards.

Indian Railways to launch ‘Train 18’

Indian Railways is rolling out its first self-propelled semi-high speed train set for inter-city travel in June 2018. Codenamed Train 18, this self-propelled train would be able to travel at speeds of 160 kmph and will eventually replace Shatabdi Express trains on the Indian Railways network.

Teejay Lanka doubles capacity of India plant with $15 m expansion

Teejay Lanka, one of the Sri Lanka’s largest textile manufacturers, has announced a doubling of capacity of its Indian mill, located within the Brandix India Apparel City in Vizag, following the completion of an expansion project involving an investment of $ 15 million.

PM Modi inaugurates India's first smart and green highway

Prime Minister Modi inaugurated India's first smart and green highway. The 135 km smart highway, known as Eastern Peripheral Expressway will be lit by solar power and has arrangements for rainwater harvesting on both sides as well as intelligent traffic management.

India develops Most Ven. Maduluwave Sobitha Thero Village in Anuradhapura

At a special ceremony held on 27 May 2018, foundation stone was jointly laid to start the construction work for development of Most Ven Maduluwave Sobitha Thero Village (Elapathagama) in Anuradhapura District by Honorable Speaker of Parliament Mr. Karu Jayasuriya,...

India turns into a hot spot for global firms offering smart mobility

India’s quest for smart mobility has made it a hot spot for international companies to offer their latest technologies such as pod taxis, hyperloop, electric vehicles, cable cars and ropeways.

Government of India has announced its annual calendar of training course to be offered in Sri Lanka under Indian Technical & Economic C0-operation (ITEC) and Colombo plan for the year 2018-2019...

Indian economy projected to grow 7.6% in 2018-19: UN

India’s economy is projected to grow 7.6% in fiscal year 2018-19, remaining the fastest growing economy in the world, as robust private consumption and benefits from past reforms help the country’s GDP gain momentum but sustained recovery in private investment remains a crucial challenge, according to a UN report.

Student Exchange Program Between India And Sri Lanka

The High Commission of India facilitated a Youth Exchange Programme for the students of The Lawrence School, Sanawar – India (est. 1847) and The Royal College - Colombo( est. 1835). The visiting delegation from Sanawar also called on Hon...